Texas Jury Awards $2.8M To Highland, $2.6M To Ex-PE Head

Law360, Dallas (February 6, 2014, 5:42 PM EST) -- A Texas jury on Thursday dealt a mixed verdict to Highland Capital Management LP and its former head of private equity, finding the ex-executive breached his employment agreement and awarding the firm $2.8 million, but also finding the ex-exec was owed $2.6 million in compensation.

After about two days of deliberations, the jury in a 10-2 verdict found former Highland executive Patrick Daugherty — who led the firm’s private equity and distressed assets teams — breached three employment agreements by taking with him confidential and proprietary...